You know what's more excruciating than a high volume dump down to $180? A slow, 12 month grind down to $180. From the average Joe, I'm sensing a huge amount of apathy for bitcoin right now, which sucks.
Why no apathy in the years before Jan 2013? Are we still way above what can be supported?
I fear that if Bitcoin was what it is supposed to be you wouldn't have to ask the question. We would just see stable high volume on all exchanges. Instead we see the market and volume move according to the sentiments of speculators. If someone really needed BTC they would just buy it and use it without hanging out to see what the price would do. That doesn't mean that it can't sustain a highish price as a speculators plaything, but I would be more comfortable if speculators accounted for 10% of the volume, not 90-98%. Edit: typo: can should be can't |
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I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.
Specifically what is it that makes you think he does not know what he is talking about? (just out of interest) (also.... what do you see as Bitcoins poor reputation) 1. He seems to confuse miners with nodes and compares sha256 asics to conventional servers. He also claims that the 10min block time can easily be changed seemingly without understanding the implications of that. Then he alludes to a closed loop system with vendors without any specifics, and if the previous points are not simply due to intentional over simplification or provocation I fear that they might hit a snag that they can't get past. 2. Exchange scandals, illicit activities, scams, theft, worst investment of the year awards. Edit: 2. And right wing extremist libertarian loons. Ok cool thanks I have not read the article yet, I will give it a read later... you would really strongly hope that they would get people in management, that really know their beans, what with all of that investment.. (any idea if there is any video available of his talk? sorry being lazy having hectic day/week, got a plane to catch) As for the bad reputation... all of those things you list, are not to do with BTC per se, but more to do with some of the people involved in some of the ecosystem, and are of course things that happen with every currency/commodity/anything of value. Apart from "worst investment of the year" which does not really mean much tbh. I'm on a phone on the move as well. Regarding the bad reputation bit. You're preaching to the choir, but that doesn't mean BTC doesn't have an image problem. And if 21 blow the largest investment run in this sector on a mirage, that won't help. |
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I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.
Specifically what is it that makes you think he does not know what he is talking about? (just out of interest) (also.... what do you see as Bitcoins poor reputation) hem, Coindesk?  Very possible. I hope so. Sad for Coindesk though. |
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I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.
Specifically what is it that makes you think he does not know what he is talking about? (just out of interest) (also.... what do you see as Bitcoins poor reputation) 1. He seems to confuse miners with nodes and compares sha256 asics to conventional servers. He also claims that the 10min block time can easily be changed seemingly without understanding the implications of that. Then he alludes to a closed loop system with vendors without any specifics, and if the previous points are not simply due to intentional over simplification or provocation I fear that they might hit a snag that they can't get past. 2. Exchange scandals, illicit activities, scams, theft, worst investment of the year awards. Edit: 2. And right wing extremist libertarian loons. |
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I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.
So either thery're people with a lot of Fiat, willing to take a very big gamble or people who have a vision and dare to invest their money in those ideas. Or simply lose all their invstors money to something that won't work and further damage Bitcoins poor reputation. |
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I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.
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I pretty much share the same short-term view. Here's DanV's newest projection.   So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events. It certainly is. Now that his TA based predictions conforms with my hopes and dreams I must declare that TA is hard-science and is a powerful tool to help predict the market. |
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Shorts reached 30.7k this morning
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GBTC might start trading on monday, but I would think Gemini/Coin would want to comply with the final BitLicense before they launched.
As I understand, Gemini (the Winkles' exchange) depends only on ordinary bureaucratic licenses (MSB, MTB, whatever). If Coinbase can function, they should be able to function too (unless they are based in NY and have to wait for the BitLicense because of that). The COIN ETF is more complicated: it must be approved by the SEC, which is not just a bureaucratic formality. There is no way to tell how long the SEC will take to decide, or whather it will get approved at all. (In fact, I have read somewhere that, the longer the SEC takes to decide, the less likely is that it will be approved.) whather I find it hard to believe that the heavyweight attorney that specializes in this SEC stuff can't make it happen or know the approach to making it a high probability. I'm sure she has had clients that work in key areas of the SEC and/or is on a first name basis w/ politicians that can properly lean on the needed personnel to lock this up. Furthermore, I'm sure major interest across wall street and the hedge fund scene want this type of thing up and running to put portions of their assets into it for an intense growth wing. I'm sure Kathleen Moriarty has the skills needed, but this is a much bigger game than her getting ETFs approved by SEC through her carreer. The dollar and banking is at stake. At the same time, I think the people with power has realized that they have no good weapons to shut down bitcoin. I think they are just manipulating the price / stalling and trying to time everything in their favor. But I could be wrong (as I usually am when wearing my tinfoil hat.) The US government can if they want to. All they need to do is arrest key people in the Bitcoin community for distributing an illegal alternative to the legal national currency and make a statement saying that the use of bitcoin is illegal. No lawmakers need to get involved, they have all the precedence they need. If they made it a priority to stop the use of bitcoin internationally they would make it part of their foreign policy and you would see one country after another fall in line. And Norway would be that annoying kid that does it very quickly and then starts pestering the other countries to do it too. |
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GBTC might start trading on monday, but I would think Gemini/Coin would want to comply with the final BitLicense before they launched.
As I understand, Gemini (the Winkles' exchange) depends only on ordinary bureaucratic licenses (MSB, MTB, whatever). If Coinbase can function, they should be able to function too (unless they are based in NY and have to wait for the BitLicense because of that). The COIN ETF is more complicated: it must be approved by the SEC, which is not just a bureaucratic formality. There is no way to tell how long the SEC will take to decide, or whather it will get approved at all. (In fact, I have read somewhere that, the longer the SEC takes to decide, the less likely is that it will be approved.) whather What the heck, why not feed the TLDR Troll. I'm guessing one of the functions of Gemini would be to provide liquidity to the ETF in an open and regulated way. Thus it would make sense to base it in New York, or at least have it comply with/conform to the BitLicense. Not to mention that if it's going to be an insured exchange they ought to comply/conform to the strictest or leading standards in order to keep insurance costs down. Plus, New York is where the money's at. I would think they would launch the Gemini exchange before they launch the ETF since there might very well be that they won't get the ETF unless it's hooked up to an exchange that meets certain requirements. I am not sure if Coinbase meets the requirements to provide liquidity to an ETF. Yes, it's all guesswork. But looking at the launch of Gemini it looks like not even the Twinkledinkles know what it takes to get that ETF through, so I'm in good company. |
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Over 30K shorts. There isn't enough coins for sale to close those shorts out. If they cascade close we could see million dollar coins!
Yeah!!! wut? Yeaaahhh!!!!  |
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2 USD down. Doesn't look good for my prediction that monday will be "Wall Street Monday"...  TBH I didn't understand your argument. A lot of old news would somehow create the perfect storm tomorrow for no real reason at all? Of course, If you are right then we will all hail you as our new king. King, lol! It's mostly based on the GBTC delay, the fact that it could be wise to sync it with Gemini or COIN, Rand Pauls appearance at a bitcoin event today and signals the the BitLicence is "Comming very soon". And announcements often happens on mondays. GBTC might start trading on monday, but I would think Gemini/Coin would want to comply with the final BitLicense before they launched. So it would be quite impressive if it came out the same day. And I would be surprised if that loon Rand Paul would get anyone to buy bitcoins. But I thought the price would be $850 by now, so wth do I know? |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting... I can't say I see a high volume dump anywhere. I just see people selling all across the exchanges. |
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2 USD down. Doesn't look good for my prediction that monday will be "Wall Street Monday"... TBH I didn't understand your argument. A lot of old news would somehow create the perfect storm tomorrow for no real reason at all? Of course, If you are right then we will all hail you as our new king. |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. Yeah. Well, my thory has been that if the market believes that bitcoin has a future it wonīt let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips. The volume isn't here though. We have to move soon, my bottom is clenched. I thought earlier that it had formed a solid support at 240-250 and I think itīll crawl back to there. Although the volume is always weak, bitcoin has this persistent and annoying buying from tons of small bulls. Annoying that is to those few and relatively big bears that have played it down (and of course sometimes up while they cover) for over a year now. Bitcoin has twice tried for 300 in the last three months or so. A third isnīt too far fetched in the short to intermediate trem. Weīll see. Good luck, g We need to punch through 300 and land comfortably at 380 soonish and climb to 450-550 over the summer. Then I would feel more confident. But as you say, we'll see. Good luck to you too. |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. I doubt they have the equipment or even the prerequisites to install AC units in that scale. A lot can be done with some fans and wet corrugated paper. But it still draws electricity. |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. Yeah. Well, my thory has been that if the market believes that bitcoin has a future it wonīt let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips. The volume isn't here though. We have to move soon, my bottom is clenched. |
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Coinbase wall down.
Whats going on
Apply a lube of your choosing |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. |
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I want $2300 coins! No more of this weak cheap nonsense!
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